Nikko Asset Management Americas Inc. Trims Position in Matador Resources (NYSE:MTDR)

Nikko Asset Management Americas Inc. trimmed its position in Matador Resources (NYSE:MTDR) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,190 shares of the energy company’s stock after selling 2,540 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Matador Resources were worth $967,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. TCTC Holdings LLC increased its stake in shares of Matador Resources by 53.8% in the 4th quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Matador Resources by 108.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after purchasing an additional 256 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Matador Resources by 68.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock worth $29,000 after buying an additional 207 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Matador Resources by 359.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after buying an additional 453 shares during the period. Finally, True Wealth Design LLC purchased a new position in shares of Matador Resources during the 3rd quarter valued at about $37,000. 91.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Joseph Wm Foran purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the acquisition, the chief executive officer now owns 39,379 shares of the company’s stock, valued at approximately $2,124,103.26. This represents a 17.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher P. Calvert acquired 1,300 shares of the company’s stock in a transaction on Friday, February 21st. The shares were purchased at an average cost of $55.17 per share, with a total value of $71,721.00. Following the completion of the purchase, the chief operating officer now directly owns 34,000 shares of the company’s stock, valued at $1,875,780. This trade represents a 3.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 20,850 shares of company stock valued at $1,077,024 in the last ninety days. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTDR. Wells Fargo & Company raised their target price on shares of Matador Resources from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Truist Financial raised their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Benchmark reaffirmed a “buy” rating and issued a $62.00 target price on shares of Matador Resources in a report on Friday, January 17th. Raymond James decreased their price target on Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. Finally, Stephens boosted their price objective on Matador Resources from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.20.

Matador Resources Trading Up 3.5 %

MTDR stock opened at $50.34 on Tuesday. The firm has a fifty day moving average price of $56.07 and a 200 day moving average price of $54.94. Matador Resources has a fifty-two week low of $43.89 and a fifty-two week high of $71.08. The firm has a market cap of $6.30 billion, a PE ratio of 7.05 and a beta of 3.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.93.

Matador Resources (NYSE:MTDR) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The business had revenue of $970.37 million during the quarter, compared to analysts’ expectations of $967.10 million. Matador Resources had a return on equity of 18.52% and a net margin of 25.26%. Sell-side analysts anticipate that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a yield of 2.48%. Matador Resources’s dividend payout ratio is 17.51%.

Matador Resources Profile

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.